Neural recently secured $1.4 million in an oversubscribed pre-seed funding round, reinforcing its role in enhancing property/casualty insurance through artificial intelligence and data analytics.

Utilizing a mix of open and proprietary data, including sophisticated geospatial imagery analytics, the company aims to refine operational efficiency and risk identification in insurance, alongside mitigating fraud.

“Our aim is to develop a scalable geospatial infrastructure that serves various industries,” said Neural Chief Technology Officer Dan Lopez in a company press release. “Our platform’s strength lies in its ability to process, interpret, and link a wide array of data sets, leading to systematic quantitative forecasting capabilities.”

Its AI-powered platform integrates proprietary data analytics to offer a robust suite of tools for real-time risk assessment, including a unique scoring system for underwriters and algorithms designed to analyze vast economic, population, and environmental datasets.

“Our goal is to revolutionize industries with data, using today’s most advanced technology to uncover insights on a micro and macro scale, far beyond current practices,” said CEO Austin Childs in the release. “The potential for what we can achieve is only beginning to unfold.”